AVP, Mortgage Loan Accounting

Fortitude Reinsurance Company Ltd. (Fortitude Re) is one of the world's leading providers of legacy reinsurance solutions. They work with the world's leading insurance companies to help them execute comprehensive, transformational solutions for legacy Life & Annuity and P&C lines. Fortitude Re manages a general account of approximately $111 billion across life, annuity, and property & casualty insurance products. The company takes a long-term view on growth and is proud to be backed by a consortium of sophisticated institutional investors led by The Carlyle Group and T&D Insurance Group. Incorporated under the laws of Bermuda on January 1, 2017, Fortitude Re's roots in the insurance industry and the experience of their leadership go back many decades. Fortitude Re's leadership team has an average industry tenure of over 20 years, and an impressive track record of successfully managing the most complex legacy liabilities. Their deep insurance experience and proprietary risk modeling capabilities allow them to structure bespoke transactions that benefit both insurance companies and their policyholders. Fortitude Re continues to strengthen its ability to pursue further growth and provide innovative solutions for the global insurance industry.   Click here for more information about Fortitude Re.

Fortitude Re is establishing a Center of Excellence (CoE) for mortgage loan accounting expertise, governance, and reporting. This CoE will own accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS, ensuring accuracy, regulatory compliance, and transparency. The Assistant Vice President of Mortgage Loan Accounting will ensure all mortgage loan transactions, accruals, valuations, and impairments are processed completely, accurately, and on time, while holding Clearwater, servicers, and valuation vendors accountable for current operations and driving future automation and AI adoption. The role will also translate mortgage loan results into clear insights for senior leadership, regulators, and auditors, connecting outcomes by legal entity, accounting basis, and reinsurance deal. The role reports to the SVP, Investment Accounting Controller.

What You Will Do:

• Lead Fortitude Re's Mortgage Loan Accounting & Reporting Center of Excellence (CoE), serving as the enterprise hub for loan accounting expertise, governance, and reporting.
• Own end-to-end mortgage loan accounting and reporting across GAAP, STAT, Bermuda SFS, and EBS.
• Ensure all loan transactions (originations, accruals, amortization, repayments, prepayments, and restructurings) are processed completely, accurately, and on time.
• Oversee Clearwater loan processing and integration with SAP, ensuring data integrity and correct entity/account mapping.
• Hold servicers, Clearwater, and valuation vendors accountable for service-level adherence, issue resolution, and escalation of breaches.
• Drive automation and AI adoption to streamline reconciliations, data validations, impairment testing, and reporting workflows.
• Direct monthly and quarterly loan-level reconciliations across Clearwater, servicer reports, custodians, and the general ledger.
• Oversee valuation governance, including third-party appraisals, DSCR/LTV testing, and collateral validation.
• Lead quarterly CECL allowance and impairment testing, ensuring assumptions and methodologies are well-documented and aligned with investment risk partners.
• Ensure results are reported by legal entity, accounting basis, and reinsurance deal, connecting outcomes to treaty economics.
• Investigate and resolve valuation and income variances, ensuring transparency and proper documentation.
• Provide performance analysis and narratives by portfolio, entity, and reporting basis to CFO, CIO, and senior leadership.
• Coordinate with Investments, Treasury, Risk, and Policy Accounting to ensure data consistency and alignment with ALM and capital strategies.
• Maintain SOX and internal control compliance for all loan accounting and reporting processes.
• Oversee preparation of loan-related financial disclosures (GAAP footnotes, NAIC schedules, Bermuda filings).
• Present methodologies, results, and governance items to senior committees, regulators, and auditors.
• Lead loan-related audit responses, ensuring documentation is complete, accurate, and timely.
• Manage and mentor a team of managers and associates, including offshore support, to ensure consistent, high-quality execution.
• Foster a culture of process improvement, accountability, and cross-functional collaboration across the Investment Accounting function.

What You Will Have:

• Bachelor's degree in Accounting, Finance, or related field (CPA strongly preferred).
• 8+ years of accounting experience with a focus on mortgage loans, structured lending, or fixed income investments.
• Deep knowledge of multi-basis reporting (GAAP, STAT, Bermuda SFS, EBS).
• Demonstrated ability to ensure complete, accurate, and timely processing of complex mortgage loan portfolios.
• Experience with Clearwater Analytics loan processing; SAP and Palantir experience preferred.
• Strong technical expertise in valuation governance, including collateral appraisals, LTV/DSCR testing, and impairment methodologies.
• Proven experience leading CECL allowance modeling and impairment testing for loan portfolios.
• Demonstrated leadership in SOX/internal controls design and compliance for loan accounting and valuations.
• Strong communication skills with experience presenting to executives, committees, auditors, regulators, and rating agencies.
• Track record of driving automation, AI adoption, and process transformation in investment accounting.
• Experience building, leading, and mentoring high-performing teams (including onshore and offshore resources).
• Strong analytical, problem-solving, and organizational skills with attention to detail.
• Ability to connect results across legal entities, accounting bases, and reinsurance deals to treaty economics and capital optimization.
• Preferred (optional): Public accounting background or Big 4 experience with insurance/reinsurance or investment clients.

The base salary range for this role is listed below and will be commensurate with candidate experience. Pay ranges for candidates may differ based on the cost of labor in that location. In addition to base salary, all employees are eligible for an annual bonus based on company and individual performance as well as a generous benefits package.

Base Salary Range: $130,000 USD - $170,000 USD

At Fortitude Re, our strength has always come from our people. Our success is deeply rooted in our ability to embrace the unique attributes, perspectives and experiences of every individual within our company.  Fostering a culture of inclusion and belonging where everyone—regardless of background, race, religion, sexual orientation or gender identity—feels valued and respected is a foundation of our culture.

We are committed to being an equal opportunity employer and evaluate qualified applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, diversity of thought and any other characteristic protected by applicable law.

To all recruitment agencies

:  Unless you have been requested to work on this position, or other positions with Fortitude Re, please do not forward any resumes to Fortitude Re employees.  Fortitude Re is not responsible for any fees related to unsolicited resumes.

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